LAW OF THE REPUBLIC OF MOLDOVA

of February 27, 2020 No. 22

About interpretation of article 52-1 of the Law on activities of banks No. 202/2017

Based on Item c) article 66 of the Constitution of the Republic of Moldova and part (2) article 72 of the Law on regulations No. 100/2017

The Parliament adopts this organic law.

Art. 1. - In value of article 52-1 of the Law on activities of banks No. 202/2017 (The official monitor of the Republic of Moldova, 2017, Art. No. 434-439, 727), with subsequent changes, within the procedure of cancellation, issue, sale, the redemption, converting of the shares withheld with non-compliance with requirements imposed to quality of shareholders, the bank cannot carry out transactions by means of which could acquire the property right to the shares which are again issued and written down on bank account, that is transactions which are directly not stipulated in Article 52-1, including without limitation them, transactions on acquisition, purchase and the redemption.

In this regard the bank can acquire the property right to the shares which are again issued and written down on bank account only in case and on the conditions provided by part (22) article 52-1 of the Law on activities of banks No. 202/2017.

Art. 2. - This law becomes effective from the date of publication in the Official monitor of the Republic of Moldova.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info